Stocks in the United States weakened slightly today. Investors are losing faith that an agreement to reopen the Strait of Hormuz can be reached quickly. The dollar strengthened on the foreign exchange market.
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US indices closed slightly in the red
The Dow Jones index, which includes shares of 30 leading American companies, lost 0.11 percent and closed at 53,975.98 points. The broader S&P 500 index fell 0.06 percent to 7,753.11 points, and the Nasdaq Composite index, which includes many companies from the advanced technology sector, declined 0.32 percent to 26,605.36 points.
Iran announced that it will reopen the Strait of Hormuz only when the United States lifts sanctions against it, pays reparations, and meets a number of other conditions. US President Donald Trump, in turn, is demanding that Tehran pay compensation for people he says it killed in wars, various attacks, and anti-government protests. The price of US light crude West Texas Intermediate (WTI) rose approximately five percent in response to $82.13 per barrel.
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Oil prices rise and dollar strengthens
Shares of American chipmaker Intel headed downward, losing over four percent by the close. The company announced it plans to raise $15 billion (315 billion CZK) through the sale of shares. Along with oil prices, the US dollar rose at the start of the week ahead of Wednesday’s US inflation report. The Japanese yen recorded its steepest one-day decline in almost five months.
The dollar index, which tracks the dollar’s performance against a basket of six major world currencies, added 0.3 percent to 99.81 points shortly before 10:00 PM CEST. The euro lost 0.15 percent against the dollar to $1.1542. The dollar gained almost one percent against the yen to 159.29 JPY.
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Source: ČTK
